The Bank of Ghana (BoG) has firmly dismissed speculation that it plans to introduce a new GH¢500 banknote or any higher-denomination currency as part of its upcoming “Heritage Series” launch. Instead, the central bank says the November 3, 2026 rollout is strictly an upgrade of existing Ghana cedi notes, not the creation of new denominations.
Dominic Owusu, Director of the Currency Management Department at the Bank of Ghana, made the clarification during an appearance on the Super Morning Show with host Winston Amoah on September 25, 2026. He urged Ghanaians to ignore social media chatter suggesting the central bank was preparing to issue a GH¢500 note or other higher-value denominations.
Owusu stressed that the Heritage Series involves only the redesign and enhancement of current banknotes in circulation. “The existing denominations are going to remain the same,” he said, adding: “No additional denomination in terms of going beyond 200 is coming on board.”
Security, durability and design upgrades
The upgraded notes will feature stronger anti-counterfeiting measures, greater resilience to wear and tear, and contemporary designs that celebrate Ghana’s cultural identity and national aspirations. Owusu explained that the new series is meant to “provide stronger protection against counterfeiting, withstand the demands of prolonged circulation, and support more efficient and cost-effective currency management”.
He also noted that the notes “will also come with improved durability and modern designs that reflect Ghana’s heritage and aspirations”.
Speaking at the conclusion of the 132nd Monetary Policy Committee (MPC) meeting on September 24, 2026, BoG Governor Dr Johnson Pandit Asiama said the Heritage Series is part of a broader effort to modernise Ghana’s currency and reinforce its security and longevity. He said the redesign responds to evolving circulation patterns, technological advances and increasingly sophisticated global security standards for banknotes.
The Heritage Series will embed Ghanaian iconographic elements and honour national heroes, with each denomination crafted to tell a part of the country’s historical narrative while projecting its future ambitions. The series carries the theme: “The Cedi, Our Future Secured; Designed to Last.”
Existing notes remain legal tender; co-circulation confirmed
The Bank of Ghana has repeatedly emphasised that the introduction of the Heritage Series will not invalidate current Ghana cedi banknotes. Both old and new notes will circulate side by side, and members of the public can continue using their existing notes after the November 3 launch.
Dr Asiama underlined this point, saying: “Let me emphasise that the introduction of the new heritage series does not mean that the existing Ghana cedi banknote will cease to be legal tender at all. The new heritage series will co-circulate with the existing Ghana Cedi banknotes that are currently in circulation.”
Owusu echoed the message, telling citizens: “The existing banknotes and the new banknotes will co-circulate together. So there is no need for anybody to rush to do an exchange.”
The Heritage Series is scheduled for official unveiling on November 3, 2026, at Bank Square in Accra. The upgraded denominations will cover the existing GH¢1, GH¢2, GH¢5, GH¢10, GH¢20, GH¢50, GH¢100 and GH¢200 notes, with the GH¢2 banknote being reintroduced as part of the series.
In short, the Bank of Ghana’s position is clear: there will be no GH¢500 cedi note in the Heritage Series; the exercise is an upgrade, not an expansion, of denominations, and all current notes will remain valid and in use alongside the new designs.
